National Bankshares Issues Positive Forecast for Hydro One (TSE:H) Stock Price

Key Points

• National Bankshares has raised its price target for Hydro One from C$47.00 to C$48.00, while maintaining a "sector perform" rating, suggesting a potential downside of 5.33% from the previous close.
• Other analysts have given mixed outlooks; TD Securities raised their target to C$54.00 with a "hold" rating, while Raymond James decreased their target to C$45.00, indicating the variability in market sentiments.
• As of the latest update, Hydro One shares traded at C$50.70, with a one-year market capitalization of C$30.40 billion and a significant historical price range between C$42.52 and C$53.98.

Hydro One (TSE:H - Get Free Report) had its price objective lifted by equities researchers at National Bankshares from C$47.00 to C$48.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bankshares' price objective would suggest a potential downside of 5.12% from the stock's current price.

Other analysts have also issued reports about the company. Royal Bank Of Canada raised their price objective on Hydro One from C$46.00 to C$53.00 in a report on Friday, May 9th. TD Securities lifted their price target on Hydro One from C$52.00 to C$54.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. BMO Capital Markets lifted their price target on Hydro One from C$46.00 to C$50.00 and gave the stock a "market perform" rating in a research note on Friday, May 9th. CIBC lowered their price target on Hydro One from C$52.00 to C$51.00 in a research note on Monday, July 21st. Finally, Wells Fargo & Company lifted their price target on Hydro One from C$47.00 to C$52.00 in a research note on Friday, May 9th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Hydro One has an average rating of "Hold" and an average price target of C$51.00.

Hydro One Stock Performance

Hydro One stock traded down C$0.20 during midday trading on Thursday, hitting C$50.59. 927,663 shares of the company were exchanged, compared to its average volume of 1,001,733. The firm has a market capitalization of C$30.33 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. Hydro One has a fifty-two week low of C$42.52 and a fifty-two week high of C$53.98. The business has a fifty day simple moving average of C$49.27 and a two-hundred day simple moving average of C$48.89. The company has a debt-to-equity ratio of 140.53, a quick ratio of 0.30 and a current ratio of 0.58.

About Hydro One

Hydro One operates regulated transmission and distribution assets in Ontario. The area's largest electricity provider serves nearly 1.5 million customers. Transmission accounts for roughly 60% of the company's rate base, with distribution accounting for the remainder. Hydro One operates a small telecom business, Acronym Solutions, with annual revenue contributing less than 1% to consolidated results.